AKITA Declares Dividend



    CALGARY, July 14 /CNW/ - AKITA Drilling Ltd.'s Board of Directors
approved the payment of a quarterly dividend to shareholders.
    AKITA Drilling Ltd.'s Board of Directors approved an ordinary cash
dividend of seven cents ($0.07) per share on the Outstanding Class A
Non-Voting and Class B Common shares of the Corporation for payment on
October 1, 2008 to shareholders of record at the close of business
September 17, 2008.  This dividend is an eligible dividend for Canadian Income
Tax Purposes.

    AKITA is an Alberta corporation engaged in the contract drilling business
and is listed on the Toronto Stock Exchange under the symbol AKT.

    
                   DIVIDEND/DISTRIBUTION DECLARATION FORM

    -------------------------------------------------------------------------
    Date of Declaration                     July 14, 2008
    -------------------------------------------------------------------------
    Company                                 AKITA Drilling Ltd.
    -------------------------------------------------------------------------
    Type of Security on which Dividend/     AKT-A
    Distribution declared                   AKT-B
    -------------------------------------------------------------------------
    Amount of Dividend/per share (if        Seven Cents
    stock dividend or foreign funds,
    give details)                           $0.07
    -------------------------------------------------------------------------
    Payable Date                            October 1, 2008
    -------------------------------------------------------------------------
    Record Date                             September 17, 2008
    -------------------------------------------------------------------------
    (TSE sets Ex-Dividend Date)
    -------------------------------------------------------------------------
    Contact Phone No.                       Murray Roth
                                            403-292-7979
    -------------------------------------------------------------------------
    

    %SEDAR: 00002868E




For further information:

For further information: Mr. Murray Roth, Vice President, Finance and
Chief Financial Officer, (403) 292-7950


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